Crédit Agricole has announced an increase in its shareholding in the Italian financial institution Banco BPM, raising its stake to 29.3% as part of its strategy to strengthen its presence in the Italian market.

The French banking group stated that the additional shares were acquired through a combination of purchases on the secondary market and the use of derivative instruments.

Back in April, when the bank released its first-quarter financial results, it disclosed that it held a 22.9% stake in the Italian bank at that time.

The bank indicated that this move to increase its holding is a component of its long-term plan to deepen its involvement in Italy and aligns with its strategic goal of establishing a cooperative partnership with Banco BPM as a long-term investor.

According to the bank's announcement, this acquisition is expected to reduce its Common Equity Tier 1 (CET1) capital ratio by approximately 35 basis points by the end of the second quarter of 2026.